Crombie Real Estate Investment Trust (TSE:CRR.UN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Crombie Real Estate Investment Trust (TSE:CRR.UN) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$15.56.

Several equities research analysts recently commented on the company. Scotiabank reduced their price objective on Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Canaccord Genuity Group boosted their price target on Crombie Real Estate Investment Trust from C$13.50 to C$14.50 and gave the company a “hold” rating in a research note on Wednesday, December 20th. TD Securities boosted their price target on Crombie Real Estate Investment Trust from C$15.00 to C$15.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Raymond James set a C$16.00 price target on Crombie Real Estate Investment Trust and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, BMO Capital Markets boosted their price target on Crombie Real Estate Investment Trust from C$14.50 to C$15.00 in a research note on Monday, February 26th.

Insider Activity

In other Crombie Real Estate Investment Trust news, Director Michael Harold Vels purchased 6,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost of C$13.85 per share, with a total value of C$90,025.00. Insiders own 0.14% of the company’s stock.

Crombie Real Estate Investment Trust Price Performance

TSE CRR.UN opened at C$12.88 on Thursday. Crombie Real Estate Investment Trust has a one year low of C$11.68 and a one year high of C$15.78. The stock has a 50-day moving average of C$13.75 and a 200 day moving average of C$13.42. The company has a market capitalization of C$1.38 billion, a price-to-earnings ratio of -39.03 and a beta of 0.91. The company has a debt-to-equity ratio of 119.86, a quick ratio of 0.11 and a current ratio of 0.15.

Crombie Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.0742 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.91%. Crombie Real Estate Investment Trust’s payout ratio is currently -269.70%.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.